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Prices Paid: Buying & Leasing Experiences Toyota Sienna Prices Paid and Buying Experience
9637 messages, Last post on Nov 29, 2009 at 9:50 PM
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Replying to: carlupi (May 17, 2009 1:18 pm) |
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Okay, I think I made every mistake in the book today but please bear with my stupidity... I am in Long Island, New York. I went to a few dealers today and put a $40 deposit at one. My original intention was to lease. I am interested in an ’09 Sienna LE 8 Seat FWD. The vehicle below has the extra value pack #1. My current vehicle is leased and has 3 payments of $340 left on it. With a total of $3663.27, including all taxes and fees down, I got a lease deal of $359 per month for 36 months with 12k miles per year. This includes them taking my old lease vehicle in. I guess my first question is, is this a good deal? There is no MSRP on the Lease Order but the following amounts are listed: First Month Lease Fee: $359.00 Cash Down Capitalized Reduction: $1,300 Bank Acquisition Fee: $650 Documentation Fee: $45 NY State Inspection: $10 Up Front Sales Tax: $1,170.76 Sales Tax on Capitalized Reduction: $112.13 Sales Tax on Administrative Fee: $3.88 Tire Disposal Fee: $12.50 Now on the way home, I decided that I may want to purchase this vehicle rather than lease. So I called the dealer to ask how much it would cost me to purchase the vehicle. He told me for the same amount down ($3,663.27), the cost would be $504 per month with 3.9% financing. I then asked him how much the MSRP is (since it is not on the lease agreement) and he told me it was $26,900 + Tax. The tax rate where I live is 8.375%. Something doesn’t seem right to me. It seems like the lease deal is a good deal but I’m not sure about the purchase deal... especially after reading some of the deals some of you have gotten. I realize this is my fault because I went in asking for a lease and didn’t think about buying until I was on the way home. If I do buy, I am looking to put down 10k-15k. Can I have some advice and recommendations about where I should go from here? I would really appreciate your feedback. I am not opposed to getting this same vehicle with some an extra value pack #2 or #3 if of course I can get it for the right price. Thanks
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Replying to: scormodo (May 17, 2009 6:51 pm) You can lease for a 36 month intitially with a 0.00005% APR. The contract itself should indicate how much we can pay to buy at the end of 36 month lease period. The value will be the TRADE-IN-VALUE after 36 months. Usually the trade-in-value will be very less than private-party value. So if you lease now for 36 month  0.00005% and then buy it after 36th month, then you will save a lot. Because right now you are on 0.0% rather 2.9% or 3.9%. I do not understand what is $1,300 for???. because when I checked in Indianapolis yesterday for an XLE, they have no EXTRA fees. If I were to lease for 3 years, and then buy on 36th month, then it was saving me around $ 3000 .00 Mail me at ramaname gmail.com for any questions.
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Replying to: duck4you (May 15, 2009 2:05 pm) |
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Replying to: gondalia (May 17, 2009 8:07 am) |
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Replying to: scormodo (May 17, 2009 6:51 pm) Thing is, each transaction you make with the dealer, they are adding a profit layer for themselves. The more changes you make, the worse the deal is going to get. You probably should have waited until the prior lease is over, but you didn't, so how can you be 100% sure you will want to keep this van longer than the term of the lease? Don't get stuck again, leasing short-term may actually be better for you. I would not change it. |
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Replying to: gondalia (May 17, 2009 8:07 am) |
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I see a lot of people mention that they purchase their extended warrantees from this place. Is it a good deal or something? How can I take advantage? I live in New York, does that matter? Thanks!
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Replying to: scormodo (May 19, 2009 4:23 am)
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Replying to: dsmking1 (May 19, 2009 6:53 am) |
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